Pay Clawbacks For Executives Would Be In Order On JPMorgan Loss

by Boyd Erman
JPMorgan Chase & Co. (JPM) chief executive officer Jamie Dimon wants to keep the regulators out of banking – so here's his chance to prove his institution is willing to regulate itself. It's not enough to push out the people at JPMorgan who were responsible for the $2-billion (U.S.) trading loss that the company disclosed last week, which led to a $14-billion disappearance of shareholder value on Friday. The bank and its board ought to demand those involved return much of their pay.Ina Drew, the chief investment officer who oversaw the trading, earned about $31-million over the past two years. The top traders under her would also have earned millions. As they are escorted out the door, much of that money should be returned to the bank and its shareholders. And Mr. Dimon, as a champion of Ms. Drew's group, should probably give up some ofComplete Story »

In the marked absence of JPM CEO Jamie Dimon who will sadly not be present to explain to Senate why he is richer than (most) of the people present while wearing his signature presidential cufflinks, Carl "Shitty Deal" Levin will be the main highlight in today's Senate hearing "JPMorgan Chase Whale Trades: A Case History of Derivatives Risks and Abuses" which as reported previously found that JPM "lied" and "deceived" regulators. As the Se

In the marked absence of JPM CEO Jamie Dimon who will sadly not be present to explain to Senate why he is richer than (most) of the people present while wearing his signature presidential cufflinks, Carl "Shitty Deal" Levin will be the main highlight in today's Senate hearing "JPMorgan Chase Whale Trades: A Case History of Derivatives Risks and Abuses" which as reported previously found that JPM "lied" and "deceived" regulators. As the Se

By Robert Broens: Shares of JP Morgan Chase & Co. (JPM) were hit hard in after hours trading after the "winning bank" of the financial crisis announced a surprise $2 billion trading loss.
The Synthetic Credit Loss

JPMorgan Chase & Co. Chief Executive Officer Jamie Dimon would be the best person to lead the U.S. Treasury Department in a financial crisis, billionaire investor Warren Buffett said.
“If we did run into problems in markets, I think he would actually be the best person you could have in the job,” Buffett said in response to a question about Dimon from Charlie Rose, according to the transcript of an interview that was scheduled to air Monday on PBS. “World leaders would have confidence in him.”